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- Suvo Strategic Minerals (SUV) reported an increase in production from its Pittong kaolin operations in Victoria during the fourth quarter of FY21
- SUV says production rose by 10 per cent quarter on quarter at Pittong, with a total of 6544 tonnes of refined kaolin products produced
- The operation generated $778,000 of earnings before interest, taxes, depreciation, and amortisation (EBITDA) with more sales in the pipeline
- SUV also released its scoping study for White Knight Kaolin Project during Q4 and ended the period with $4.98 million cash on hand
- Company shares are trading steady at 16 cents per share
Suvo Strategic Minerals (SUV) reported an increase in production from its Pittong kaolin operations during the fourth quarter of FY21.
SUV said production at the Victorian-based asset rose by 10 per cent quarter on quarter, with a total of 6544 tonnes of refined kaolin products produced.
Suvo released its full quarterly report for Q4 FY21 on Friday, noting Pittong generated $778,000 of earnings before interest, taxes depreciation, and amortisation (EBITDA).
The company said the operations had a strong sales pipeline ahead with a “noticeable increase in sales enquiries” recorded over the past few months.
SUV also advanced its White Knight Kaolin Project during Q4, releasing a scoping study for the asset in WA.
The study estimated White Knight would have a pre-tax net present value of $705 million and life of mine revenue of $3.6 billion as well as EBITDA of $2.3 billion.
Looking forward, SUV was anticipating high purity alumina testing on White Cloud to be completed shortly, as well as a maiden resource estimate for the company’s Nova Silica Sands Project.
The materials stock will also make a decision on whether or not it will significantly upgrade Pittong, after an evaluation was completed recently.
Cash-wise, SUV ended the June quarter with $4.98 million cash on hand and cash flow positive with a positive operating balance sheet of $584,000.
Shares in Suvo Strategic Minerals were trading steady at 16 cents each towards the close of market on Friday.
